Do You Know Where Your Tax Money Is Going?

Everyone sinks into curiosity, wondering and seeking how and where their invested funds are traveling and landing. It is the United States citizens prerogative to be versed in the whereabouts of their tax money.

So, the vestal question is: where is your tax money going? One possibility is the financial system.

“The United States is internationally ranked 1^st in venture capital availability, 54^th in credit gap percentage points, 18^th in soundness of banks, and 98^th in banks’ regulatory capital ratio.”

Another possibility is Macroeconomic stability.

“The United States is internationally ranked 1^st for inflation, and 38^th for debt dynamics.”

Skill is a fundamental extension of our nation’s vigor and equanimity in industry. So, it is auspicious to anticipate that most tax money is supporting the education system.

“Yet, the United States is internationally ranked 1^st for ease of finding skilled employees, 2^nd for extent of staff training, 2^nd for quality of vocational training, 2^nd for skillset of graduates, 2^nd for digital skills among population, 5^th for many years of schooling, 22^nd for school life expectancy years, and 43^rd for pupil-to-teacher ratio in primary education ratio.”

Then if not education, tax money is visible in the health care system.

“The United States is internationally ranked 46^th in healthy life expectancy years.”

There is a strong likelihood the market size is reaping the benefits of our tax money. “The United States is internationally ranked 2^nd for the gross domestic product PPP $ billions, and one-hundred and thirty-six in imports % GDP.”

Or the infrastructure could very well benefit from the bonanza of tax money.

“The United States is internationally ranked 1^st for road connectivity index, 11^th in quality of roads, 33^rd in railroad density, 6^th in efficiency of train services, 1^st in airport connectivity, 8^th in efficiency of air transport services, 7^th in liner shipping connectivity index, 5^th in efficiency of seaport services, 1^st in electrification rate, 26^th in electrical power transmission and distribute losses, 1^st in exposure to unsafe drinking water, and 27^th in reliability of water supply.”

A Pew Research report accentuated that the federal government dispersed US tax dollars among areas such as: “24% for social security, 15% for Medicare, 13% for health, 13% for income security, 5% for veteran benefits, 3% for education, 15% for national defense, 6% for net interest, and 6% for other.”

“In 2018, Washington will spend $33,054 of tax dollars per household in several ways:

• $12, 401 on social security/medicare
• $6,112 on anti-poverty programs
• $5,046 on defense
• $2,434 for interest on the national debt
• $1,390 on veterans’ benefits
• $1,098 on federal employee retirement benefits
• $546 on justice administration
• $537 on education
• $533 on health research/regulation
• $487 on highways/mass transits
• $371 on international affairs
• $338 on disaster relief”

By: Shamar H. English